The A, B, C, & D’s of Medicare

 

We’ve all seen the Medicare ads that will make you wonder if you are missing out on important benefits.  This is not necessarily the case and there is no need to ponder this concern alone!  Trained and unbiased Senior Health Insurance Counselors are available to visit with you and see what works best for your situation.

 

Medicare Annual Election Period, running from October 15^th-December 7^th, is a great time to ask your questions!  Call 620-244-3826 to schedule an appointment.  Until then, here are some Medicare basics:

 

Medicare is a federal health insurance program that can cover:

• individuals ages 65 and older, individuals younger than age 65 years with disabilities, and individuals with End-Stage Renal Disease (ESRD)

 

Medicare Part A is hospital insurance that covers:

• Inpatient hospital care
• Qualified short-term stay in skilled nursing facilities
• Home health care Hospice care
• Part A is premium-free for most individuals

 

Medicare Part B is medical insurance that covers:

• Doctor’s office visits
• Outpatient hospital care
• Lab tests and certain medical equipment and supplies
• In 2024, this monthly premium for most people is $174.70.

 

Medicare Advantage Plans are also called Medicare Part C:

• Combine Part A and Part B services (i.e., HMO, PPO, PFFS, etc.)
• Some offer prescription drug coverage
• Should visit with your doctors prior to see if accepts this plan

 

Medicare Part D is Prescription Drug Coverage:

• Insurance that covers both generic and brand-name prescriptions
• Coverage is provided through private insurance companies
• Most will pay a monthly premium for a drug plan

 

Medicare Supplement Insurance (Medigap):

• Private health insurance that helps pay beneficiaries’ share of costs in Original Medicare

 

Medicare Savings Program (MSP)

• Helps pay Medicare premiums, deductibles, co-pays for individuals with limited income and resources

 

Part D Extra Help:

• Helps pay for premiums, deductibles and prescription drug costs with an income eligibility requirement

 

For more information, contact Tara Solomon-Smith, tsolomon@ksu.edu, or call 620-244-3826.

 

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